| Tue 17 Jun 2008, 10:07 | | LAF - Lonrho To Develop An Agri-Processing And Cold Store Facility And A 100 |
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LAF
LOLAF
LAF - Lonrho To Develop An Agri-Processing And Cold Store Facility And A 100
Hectare Agriculture Project At Lilongwe, Malawi
Lonrho Plc
(Formerly Lonrho Africa Plc)
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho" or "the Company")
Lonrho to develop an agri-processing and cold store facility and a 100 hectare
agriculture project at Lilongwe, Malawi
17th June 2008
Lonrho Plc (AIM: LONR), the conglomerate with a structured portfolio of African
investments, is pleased to announce that it has signed an agreement with the
Government of Malawi to develop an international standard cold store and agri-
processing and packing facility at Kamuzu International Airport in Lilongwe, in
conjunction with developing a 100 hectare agricultural project adjacent to the
airport.
Following the agreement with Airport Developments Limited (ADL), a 100% owned
subsidiary of the Malawian Government, Lonrho will develop a quality control
process; agri-processing facility; packing house; and cold store for fruit,
vegetables and flowers. The facility will provide the necessary infrastructure
for the Malawian agricultural sector to commence international exports of
agricultural produce and flowers.
It is envisaged that formal agriculture will supply 30 - 40% of the processing
plant input, and that 60 - 70% will be sourced from local indigenous small
farmers. Lonrho will provide agronomist advice to aid local farmers to increase
yields and quality of production.
Lonrho will pay a nominal ground rent for the 100 hectare farm and the site for
the new facility. The new facility will be located with direct access to the
airport apron for ease of handling and will be located at the existing logistics
terminal at Kamuzu International Airport. ADL will receive a royalty payment in
relation to the turnover of the new business.
Geoffrey White, Lonrho`s Chief Executive Officer commented:
"The agricultural sector in Malawi has grown considerably in recent years and
the level of production by local farmers clearly provides the opportunity for
export. The development of an international standard agri-processing facility in
Lilongwe in conjunction with a large agricultural project will provide benefits
to the wider agricultural sector in Malawi bringing better economic returns for
indigenous farmers and through advice and training to local farmers improve
quality and yields. "
LONRHO ENQUIRIES
Lonrho Plc +44 (0)20 7016 5105
David Lenigas, Executive Chairman +44 (0)7881 825 378
Geoffrey White, Chief Executive +44 (0)7717 307 308
Officer
Emma de Borchgrave, Executive +44 (0)7867 785 177
Director
Pelham PR
Charles Vivian +44 (0) 20 7743 6672
+44 (0) 7977 297903
James MacFarlane +44 (0) 20 7743 6375
+44 (0) 7841 672831
Collins Stewart Europe: NOMAD to
Lonrho
Hugh Field +44(0) 20 7523 8350
NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful
business throughout Africa. The Company`s shares are traded on the London AIM
stock exchange (LONR). Lonrho is strategically focused on the development of
business opportunities in infrastructure, transportation, support services,
hotels and natural resources. The Company has over 19,000 shareholders and
substantial institutional backing to support its mandate to build a profitable
business that plays a fundamental role in the development of the African
economy.
Since 2006, the Company has invested in or acquired control of:
Hotel Cardoso - www.hotelcardoso.co.mz (retained)
Lonrho Mining - www.lonrhomining.com
Luba Freeport - www.lubafreeport.com
Fly540 - www.fly540.com
Swissta Holdings - www.swissta.com
SA Independent Liner Services - www.saliners.com
Bytes and Pieces www.bytespieces.com
Kwikbuild - www.e-kwikbuild.co.za
LonZim - www.lonzim.co.uk
South African sponsor to Lonrho Plc
Java Capital (Proprietary) Limited
Date: 17/06/2008 10:07:02 Produced by the JSE SENS Department.
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